Morbi or Morvi is situated in the Morbi district of Gujarat. It used to be a Princely State that was ruled by the Ranas of Rajputs before the Indian independence in 1947. During the British era, the Morvi State was one among the several princely states that were governed by the Jadeja dynasty of Rajputs. The city is on the Kathiawar peninsula and is situated on the Machhu River. The dam on this river caused the Morbi disaster in 1979 when the Machu-2 dam burst, sending an enormous wall of water through the town and flooded Morbi. As of the latest census, Morbi has around 2 lakh residents who speak in Gujarati. Morbi experienced dynamic development n between 1922 and 1948, during which Sir Lakhdhiraji Waghji ensured commendable town planning and constructed many heritage buildings in and around the city. Morbi is known for its production of ceramic items and Compact Fluorescent Lamp. Moreover, the city is known to be the largest manufacturers of wall clocks in India.
The Indian Bank was established on 15 August 1907 as a part of Swadeshi movement. The bank is serving the nation with a dedicated staff of 19,843 as of 31st March 2018, and total business of the bank has touched Rs3,70,000 Crores. The bank has its overseas branches in Singapore, Colombo along with a foreign currency banking unit at Columbo and Jaffna. The two subsidiary diversified banking activities include IndBank Merchant Banking Services Ltd and Ind Bank Housing Ltd. The bank has allocated 2975 sub service areas as per Pradhan Mantri Jan-Dhan Seva Scheme under Finacial Inclusion Plan. The Indian Bank has a major role in introducing Self Help Groups(SHGs) and Financial Inclusion Projects in the country. The NABARD had awarded Indian Bank for being one among the two PSBs which linked the credit with the SHGs during 36th Foundation Day celebration at NABARD. The Indian Bank has also received Best Performer Award for microfinance activities in Kerela, Tamil Nadu and Puducherry(UT). Till now the bank has incorporated 39 specialized microfinance offices across the country.